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been down 30%. the outlook below the estimates. david: let's talk about citi unfortunately because they cut so many workers. their stocks taking off. nicole: leading the dow financials really well today. david: we will talk about all the financials coming up but let's take a look at the general indices with the bells ringing on wall street. we got kind of a split decision. you have to remember the negative on the nasdaq is primarily from one stock, apple getting killed pulling down the entire index. when you spent much of a divergence in what is happening on the nasdaq, there is something with one or two stocks in this case a lot of it has to do with what happened to apple and at the end of the day trading down 7%, a huge loss for apple. liz: apple has an 18% waning. if they continue their slide, looking ahead about 1% today, but if apple continues a pretty dramatic slide, watch this etf, you could suffer bigger losses. david: nicole talk about bank of america. seeing a bump topping $10, the first time that's happened since july 2011. whether it is directly related to what happened
police are responsing -- responding. >>> there is a pretty steady rain over parts of the city and also into east bay. we'll take a closer look at it coming up on this last system. second hour of the ktvu channel 2 morning news. >>> good morning, to you. welcome to a brand new day it's wednesday, december 5th i'm dave clark. >> and i'm pam cook. thank you for joining us. steve is here. we've been watching a lot of our live pictures. rain is coming down pretty steady. >> some rain, some no rain at all. things are lighting up. things have been picking up kind of steady around san francisco, and birkly. you can see that line right there. the heaviest looks to be daly city and san francisco. we'll take a closer look at this in five minutes. >>> let's take a live look at the lafayette this is highway 24. you can see traffic moving pretty well there westbound as you make your way to the caldecott tunnel. it is pretty wet out there. we got a lot of puddles. definitely take it easy. this is a look at highway 237. traffic is flowing well in both directions. let's head back to the desk. >>> there
years and a narrow casting example. but the new york city subway used to have posters written spanish advertising a gay, lesbn domestic violence hot line. that's how fine grained it get in new york new york city on the subway pushing welfare programs. it informs and pushes them. >> but getting back to the poverty program and they're pushing food stamps and welfare programs and they have a tendency to keep poor people poor. once you are on the dole it is hard tore get off. >> it is. incentives are wrong. they encourage people to stay on it. it is it a growth crisis. economic growth is easy and if we get the policies right, a lot of these people get off of it and i agree with victoria that we have a welfare industrial complex. and in order to keep these people on food stamps, we got to -- >> and creating a sense of depeppedency from fdr and bill clinton and senators . is is not just republicans and conservatives. >> that is it a valid. if you want to reform welfare to resolve the problems that you are raising. they are valid problems . we will not mix it up by condemning people who need
on monday? should taxpayeyeyeyeye [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. ti price rewind. start saving at citi.com/pricerewind. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gavisn®. can i still ship a gift in time r christmas? yeah, sure you ca great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i'll send you back to bulls and bears, more headlines just 30 minutes away. >> we showed you the
. they say they hope to soon control the city of aleppo, the country's commercial capital. after that, damascus. richard engel, nfc news. >>> this morning latin music fans around the world are lourng the death of jenny rivera. the 43-year-old grammy nominee and six others died early sunday when their small plane crashed in rough terrain in northern mexico. she performed a concert inman tore ray hours before the plane took off. the leer jet reportedly lost contact with air traffic controllers before takeoff. her brother said the family is devastated. >>> josh brent is out of jail on bond of half a million after the death of teammate jerry brown. brent was freed yesterday after being charged with intoxication manslaughter in a vehicle accident early saturday. brent had a previous drunk driving arrest and faces up to 20 years in prison on this new charge. >>> here is your first look at this morning's dish of scrambled politics. former house speaker newt gingrich believes hillary clinton would be nearly impossible to beat if she runs for president and democratic strategist james cargo say
're watching "first look" on m s msnbc. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. >>> some stories making news this morning. "the new york times" reports that president obama considers withdrawing the last american troops in afghanistan, the afghan army is not makin
there. but first our top story live here at 5:30 a.m. at 30 rock in new york city. and we begin with the latest on the rapidly approaching fiscal cliff deadline of automatic tax hikes on everybody and what appears to be a stalemate in the negotiations. in his first interview since the election, president obama reiterated his demand that any deal must raise taxes on the highest earner. yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. p what i've suggested is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a proce
by the kansas city police show jovan belcher hours before he apparently killed his girlfriend and then himself. the first dash cam video you see here shows police catching to belcher. he was not arrested, and he told police he was going to an apartment to the see a woman. listen to what police told him. >> you live right here? then you need to just go upstairs, dude. >> okay, that's going to be your best bet. >> we're trying to cut you a break here. >> take a look here, second dash cam video from five hours later, officers responding to a second belcher 911 call. he had apparently already killed the mother of his child and shot himself at the chief's kansas city practice facility. listen now to the officers learning who is behind the violence. >> we have a confirmed shooting, it is, i believe, belcher, plays for the chiefs. we have confirmed that, so -- >> well, egypt's president says he has heard the people, and is giving up most of the power he took in a recent decree, but they call the switch a farce. his decision is not retro active, meaning the actions he took since the original decree wi
. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. >>> welcome back, everyone. we now know what sentinelson mandela to the hospital. he is being treated for a lung infection. mandela, 94 years old. checked into a hospital over the weekend. is he responding to treatment. >>> former imf chief dominique strauss khan, settled a lawsuit filed by a new york city hotel maid accused him of sexual assault. the terms of at agreement not disclosed. but diallo seeking u
new york city subway riders in shock. >> the victim here was caught between a train and the station and expired on the scene. >> reporter: police say 58-year-old kesu kahn was shoved in to the path of and oncoming train and was struck and killed. the driver of the train was so distraught, he had to be taken away in a wheelchair. tuesday, police apprehended a suspect for questioning. they believe he's the man seen in a heated argument with the victim on the subway platform before the violent confrontation. to identify the suspect, detectives poured over security video from area stores and took him into custody near the scene of the crime. meanwhile, haun's family and neighbors are grieving. >> feel bad to myself and to the family, you know. it is a tragedy. >> reporter: his wife was seen being comforted by priest and police detective after learning of her husband's tragic death. kirk gregory, nbc news. >>> just a horrible story. well, elsewhere president obama could name his choices for two top cabinet posts in the next two weeks. one of those jobs may very well go to a republican. s
beckel, eric bolling, dana perino and greg gutfeld. it's 5:00 in new york city. this is "the five." ♪ ♪ >> kimberly: another death rocks the n.f.l. a week after the belcher murder-suicide. cowboys' defensive lineman josh brent charge charged with intoxication manslaughter after his passenger and teammate jerry brown was killed in a car crash outside of dallas on saturday. police say brent was speeding when the vehicle hit a curb and flipped. he is out of jail now after posting $500,000 bail. >> do you have anything you want to say to jerry brown's family? >> jerry brown is my dear best friend. i'm just trying to deal with his death right now. >> kimberly: i can only imagine. the fact it comes days after kansas city chief jovan belcher killed his girlfriend and then himself. the new video shows cops confronting him before the shooting. belcher was reportedly out drinking that night and brent's arrest is the 15th player arrested for suspicion of dui. it's a problem. what should the n.f.l. do about it? that's the discussion over the weekend. people have strong opinions about this
now. part of it is, frankly, anderson, 24/7 news, you make a mistake in this city now and you're toast for days. so, it's all of the above. but it can change. anderson, once people make up their mind, look, we are going to start doing things a little differently, we're going to go back and do some of the things that worked, part of it is generational, perhaps, and maybe with the next generation it will be different. >> i would say on a personal note, i wouldn't sell yourself short. it's good to have people there who know how to compromise, who know how to get things done and who have experience there. so, it's good to talk to you. >> thank you. >> good to talk to you, senator. >> appreciate it. >> follow us @andersoncooper. i'm tweeting about this. >>> a startling report from nbc, syrian military loading chemical weapons into a bomb and awaiting the president assad. we'll talk it over next. ♪ [ female announcer ] holiday cookies are a big job. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. five days later, i h
glk350 for $399 a month at your local mercedes-benz dealer. >> >> driving and eating, hey, the a city in south dakota fine people eating behin the wheel. >>charles, you say it has to go? >> pretty soon we'll be fined for driving while driving. and it's a way to get money, ridiculous. >> neil: this is one town that won't see cavuto passing through soon. thank you. ben, what do you think of it? >> cooking while driving. (laughter) and i thin setting the table while driving. but eating potato chips, pop corner, peanuts? that's illegal? that's insane. >> neil: i was trying to reason this out, dagen, because just seemed like-- you can't use your cell phone in a lot of states now because it's huge distracting. >> and texting. >> so, maybe that's the next step. >> i don't have a problem with this, actually, if they need to raise money-- >> get skinny. >> and you show up and you don't have-- >> and fat people have a problem with it. >> and you don't have potato chip crumbsn your lap, ben, when you arrive to see who you're seeing and don't have a sticky steering wheel, i'm done. >> neil: i'm n
or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pisani joins me on the floor of the nyse. it started with this idc report citing the fact that they would lose their dominance in the tablet market in probably the next couple of years, and then the margin requirement story. >> it is a little complicated. i just want to address this issue first of the rally that we've got because i think that is sort of what's moving the overall market. there is some vague talk in washington that there may be some r
tonight. make sure you go to gretawire.com. good night from new york city. y. here's bill. >> laura: the o'reilly factor is on. tonight: >> a royal family tragedy unfolding overseas as the nurse victimized in the kate middleton radio prank is found dead. an apparent suicide. geraldo investigates. >> when it comes to the fiscal cliff, the white house has wasted another week. >> is the president set on driving us over a fiscal cliff unless the g.o.p. caves or can a deal be made? >> our allies no longer trust us or have confidence in us and our adversaries no longer fear us. the president can make bold statements and bold talk but i don't care they care. >> rioting in egypt. civil war in syria. and radical hamas leader is welcomed in gaza. obama's mid ootion policy is in shambles and former vice president dick cheney says the president's failure puts us all in danger. >> gong ma'am style. >> i love this little chubby south korean guy. >> it's the most downloaded video of all time. >> this is the pony, remember chubby checker. >> gangnam style. >> and bill o'reilly sits down with jay leno. we'
in a midwest city with no major rivers or lakes nearby. former republican senator allen simpson has a message, use the tools to sign up people for the can kicks back campaign to avoid the fiscal cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool. >> yes. >> and they need to inspect it. >> counter-terrorism measures in the backyard. you never know. good morning, everyone. getting out the door this morning, it's very cold up in new england. tell you what, the lack of snow is really becoming a slightly alarming especially if you have any interest in snowy weather recreation or skiing or ice skating or maybe you like to go snowmobiling. the northern half of the country is sparse. 7% of the country has snow
jobs. it's going to work in michigan. >> bill: i have got to ask you about detroit which is a city on the verge of collapse. we think mayor dave bing is a good guy. maybe i'm wrong. i don't follow it that closely. detroit has no money. can't pay its bills. who is going to bail out detroit or is the whole structure going to collapse. >> there is not going to be a bailout of detroit in terms of state resources. as a practical matter what the real issue is is the mayor and the city council need to get on the same page. the mayor has been working hard they haven't been on the same page about resolving issues. they have had months to do it. things haven't gotten done. 30 day review of the finances in detroit lead to other actions taking place after the first of year. >> bill: you have to take them over. look, this has been going on forever. that city is corrupt. it's out of control. can't pay its debts. i don't think the feds are going to come in and rescue it. i mean, maybe they will like new orleans. maybe they will move in federal auditors and run the city. i mean, but you can't keep
the murder/suicide last week involving kansas city chiefs player jovan belcher. >>> and talk about a fish story -- switching gears -- a fisherman in california tells his tale after landing an enormous 459-pound tuna with a rod and reel. it could be a record catch. >> that story coming up. >>> but we're going to start this morning, the life or death mission in afghanistan to snap a american doctor out of the clutches of the taliban. this rescue operation was given the green light because the military really worried that taliban might kill this doctor. abc's mohammad lila is here this morning with new details and it was a risky mission. >> absolutely, dan. as you say, this was a life and death rescue overnight. take a look at this doctor, dr. dilip joseph, seen here in afghanistan, he was working at a remote medical clinic, ran by morning star development, when he and two his afghan colleagues were kidnapped on tuesday. the afghans were quickly released, but the doctor was kept in captivity. but last night, coalition forces made their move, making the decision to go in and rescue dr. joseph
for the year. >> what a great event. i live in phillies and friday nights in the city is filled with people and army thought they had it, but 11 straight. >> clayton: come on, army. let's check in with maria in for rick. >> good morning, everyone, we'll see a big shift in the weather pattern we've seen the last several weeks, very mild across the country and temperatures above average and enjoying basically very mild conditions for late fall and also early december, but a reality check is in store for many of us, out west and across portions of the upper midwest and air from canada is going to dip downward and we're seeing the novell. and current temperatures starting to feel the impact. and 21 right now in denver, 8 degrees in rapid city and 30 over in minneapolis and of course the cool air will continue to expand eastward across the plains and further east as we head into basically next week. and high temperatures only 15 for your high over in rapid city and 32 over in minneapolis and 22 degrees in the city of denver and feeling very cold out here. as i mentioned we have snowfall and a la
live at 30 rock in new york city. >>> this morning thousands of people are expected to converge on the michigan state capital in lansing as apartment of a troeshlg union battle that's about to unfold. at issue, the so called "right to work." legislation is being pushed through the republican lawmakers that could come to a final vote as early as today. the law would might illegal to require an employee to pay union dues as a condition of their employment. opponents say the legislation threatens to weaken the influence of labor unions in a state that is home to the auto industry and has a long history of organized labor. during a visit to detroit yesterday where he intendeded to focus on the fiscal clivgs president obama waded head first into the union battle. >> what we shouldn't be doing is trying to take away your right to bargain for better wages. we shouldn't be doing that. you know, these so-called right-to-work laws, that i don't have to do with economics. they have everything do with politics. what they're really talking about is giving you the right to work for less money
rock in new york city. >>> the effort to reach a deal on the fiscal cliff is now a two-man operation. president obama and speaker boehner. thank you. nobody else will be in the room. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his mess dwrooj the public, visiting a local virginia family as a part of his social media campaign. while sitting around the kitchen table, he told the family he felt optimistic. >> the message that i think we all want to send to members of congress is this is a solvable problem. the senate has already passed a bill that would make sure the middle class taxes do not go up next year by a single dime. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done
at 5:30 here at "30 rock" in new york city. well, we begin with the new urgency in the fiscal cliff negotiations with now just 21 days, three weeks to reach a deal. today president obama returns to campaign mode taking the fiscal cliff message to detroit. yesterday the president and speaker boehner met privately at the white house, their first face-to-face meeting since they agreed last week to clear everyone else out of the negotiating room. so what happened? well, neither side revealed anything about the meetings, only saying that the lines of communication remain open. but yesterday another influential republican, senator bob corker from the senate banking commission said his party should consider the president's idea of raising tax rates on the wealthy. >> there is a growing group of folks that are looking at this and realizing that we don't have a lot of cards as it relates to the tax issue before year end. we have one house, that's it. the presidency and the senate is in the democrat's hands. a lot of people are putting forth a theory and i think it has merit where you go in a
and new england as well and in the big town of new york city. too shy ofg. 10 shy in maine . portions of the northern plains. there goes my ride . 50s in dixie land and portions of the gulf coast. i am glad you asked. next map shows you on thursday. almost 60 in kansasy city. temperatures in the cents in texas and gulf coast down through florida. 42 will be the high temperature here in new york city. smeeking of new york city. live on our plasa. we did this last year and they are back again. say hello to reverend rob shank with faith and action. we have a live nativity scene. >> you do. it is the same one that played out in front of the united states can supreme court. we are sending a powerful message to washington d.c. and doing it here in new york. >> steve: what are the thrings. >> how was the reception. >> it was very good. people streamed out of all of the federal buildings and we get idea that supreme court justices get a glimpse of we have stantial rights and that includes faith and freedom of speech and assembly. while this is the real reason for the season, we have to exerci
mercedes-benz dealer. me for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ lou: house speaker boehner says the president is slow walking our economy to the fiscal cliff. former reagan white house counsel, financial criis inquiry commission member peter wallace will join me here in just moments. let's take a look at tonight's "moneyline." the dow and s&p managing gins. the nasdaq weighed down by another ba day for apple and its investors. the dow up 81 points. s&p up four, the nasdaq fell leaven. just over 3 billion shares traded on the big board today. the dow up 1%, s&p slightly higher making three straight weeks of wins. the nasdaq down 1% for its first losing week of the past three.
's tragedy that shocked the kansas city chief. the first dash cam video here shows police talking to belcher after they found him apparently sleeping in his car. he was not arrested and belcher told police he was going to an apartment to see a woman. listen to what police told him in this video released by kansas city police. >> you live right here? then you just need to go upstairs, dude. >> okay, that's going to be your best bet. >> we're trying to cut you a break here. >> now i want you to look at the second dash cam video from just five hours later. officers are responding to a second 911 call and at that moment, belcher had apparently already shot his wife and was on his way to shoot himself in front of his coach and fellow players. >> we do have a confirmed shooting and it is um the believe, belcher who plays with the chiefs. >>> it's the holiday season, but the fiscal gift from washington may end up leaving you with the bill and it could be a biggie. >>> and former south african nelson mandela is still in the hospital, we'll tell you how he's doing. or that printing in color had to co
for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> republicans still don't get it. they're still saying they lost the election because they had the wrong tone. they were atoal. okay. now i get it. dig army, one of the coke brother guys. >> we had a lot of candidates, quite frankly, that did dumb things out there. we had at least two candidates that should have won that, frankly, lost because they said some stupid things on the subject that their party's leader should have schooled them to stay away from in the first place. >> saying stupid nings. it's all about the message, not the policiepolicies. and we've heard it before. texas senator elect ted cruz said this quote. you want to
one of the best things that could happen to the state of michigan and maybe the city of detroit. if you are a car company and want to do business there because the unions are too strong and thes have to be so high and all of the jumping through hoops. maybe now you can. maybe the next car company will go do business there and bring jobs there. >> gretchen: remember back during the bailout, the unions got the good end of the deal in the bailout. it was privately held dealerships that got the rough deal. >> eric: stock holders and bond holders. >> steve: if you were holding gm stock it went to zero. >> gretchen: unions won in that deal. >> eric: uah w took billions up front. stock holders you know you might lose everything. when you buy a bond you are first in line and they wiped out the bond holders. >> gretchen: and for the state of indiana teachers infact. >> brian: gm bond holders got roll add out. capitalism rules and president obama changed going forward. >> steve: if you are a union member your union will go to bat for you and they went to bat at chrysler. do you remember w
ignite a conversation about gun control, a conversation that new york city mayor michael bloomberg has been pushing for years. he has highlighted in the latest issue of "new york" magazine. let me bring in chris smith, contributing editor for the magazine, who wrote this piece. good to see you. >> thanks for having me. >> you can see on the cover, this whole thing is sort of really about why new yorkers love new york, why we love new york. number 20 was because our mayor isn't afraid of gun control. would it surprise you if the mayor came out today and had something to say about this? >> not at all. because for virtually the entire 12-year run of michael bloomberg as mayor of new york city, this has been an important issue to him, and it's only grown over the years as he's gone to more emergency rooms in the middle of the night, you know, having to break bad news to the families of new york city cops or kids killed in just random or evil shootings. >> new york, as big cities go, is a pretty safe place to be. >> correct. >> he's been incredibly vocal. in fact, he started a super pac. he
on in the northeast, new york city and into the boston area, we will see a couple of rain showers later on today. lynn? >> all right, dylan, thanks so much. >>> coming up, the big business of those obnoxiously ugly christmas sweaters. plus, new job numbers are out this morning. and we've got some shocking, new details about that horrific garment factory fire in bangladesh that killed 112 people. you're watching "first look" on msnbc. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. al
. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is eep. introducing the ishares core, budinglos for the heart of your portfolio. find out why 9 out of 10 ilarge professisional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectis, risks, charges and expenses. ad and consider itarefully bere investing. ri includes possible ss of principal. lou: new reports show foreign investment is helping the housing market slowly recover. citimortgage president and ceo sanjiv das joins us here in just moments to discuss that and much more when it comes to housing. in the money line tonight, investors waiting cautiously to see whether washington can work out a deal to avoid the fiscal cliff. stocks rising, well, modestly is a big, strong word for what happened. technology stocks helping the dow up 15 points. the s&p up a fraction, the nasdaq rose nine. trading light. technology stock
look at the state of michigan. it has very high unemployment. the city of detroit is near 19% unemployment. so when you look at those arguments, you look at right-to-work states overall have lower unemployment rates than other states, what do you think about the potentially this being a move for the positive? maybe this is something that opens up the state to more jobs? >> there is no evidence that happens. indeed what has happened productivity has risen in this country. the last decades by 60, 70% but wages have been more or less stagnant. and if workers don't have a voice, they can't better their own condition. you know, we've had a middle class that really in terms of income been stagnant. in 201090% of the income growth went to the top 1%. the top 1% needs to be talking to the 99% and representation gives people a chance to have a voice. and essentially what, it isn't right-to-work. people don't have a join a union. they don't have a pay union dues. if a majority selects a representative, essentially everybody needs to pay the cost of that representative sentation. jenna:
by jason whitlock who was in kansas city for a long time now is on the fox sports web site in which he mentioned, i think credit continuably, credibly a gun culture in this country. plays itself in many ways it's about and toward guns that almost always leads to tragedy rather than safety. >> bill: we will get to that in a moment. i want to clear this gun control thing up because that's why got in trouble because some people felt. >> yeah. >> bill: this is a very emotional issue and i'm sure you know that. >> of course it is. >> mr. whitlock is really far out. >> there i'm not agreeing. >> bill: i know. when you associate. >> with whom. >> bill: when you associate yourself with a guy like who is that far out there. >> i was unaware of the remarks he made about the nra and the kkk i'm not sure the time line whether they postdated or predated. obviously i would disagree with them a hundred percent. >> i get it. mild scolding compared to what i have received over the last 72 hours. >> bill: as long as you call a christmas tree a christmas tree you are okay here. >> merry christmas to you
toward really slimming down citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did no
in new york city. i interrupt our program to bring you the following news. cyboergs are among us. new recording that is uncovered the extent to which these artificial entities have taken over our country. right before our eyes, they have been taking over all of our nation's institutions, slowly extending their control over our political, legal, and economic systems with their insatiable appetite for profits and prophets alone. these amoral immortals are decimating the rights of us. they are not criminals but they can live forever. even when they take a death blow, a quick cash infusion can keep them going. you may not notice them yet. soon, they will amass every single asset capable of generating hefty returns. these undead are recreating our civic and political culture in service of politics and policies that serves their voracious desire for capital. >> how do these automatoniic corps corps corpses disguise their altered state. they have taken the place of average companies. >> corporations are people. it goes to people. >> taking human form and speaking in plain english, these corp
, that was from a detroit city council member. detroit runs out of money very soon, this is a call, publicly, for an obama bailout. so, who is next? california, illinois, good question. raise tax rates on the rich or no deal. yeah, the line has been drawn again. president obama says america is poised to take off, but only if the republicans agree to tax the rich directly. he will only accept higher tax rates. how will speaker boehner respond to that? he speaks within the hour. and how about this, top anchors at a news network visit the white house for a cozy chat with the president. tell us, mr. president, how can we sell your tax the rich policy? citigroup, 11,000 jobs gone. "varney & company" about to begin. having you shipy gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ me announcer ] break from e holiday stress fedex office. >> we'll begin with sad news. dame elizabeth mother of news corporation chairman and chief executive rupert murdoch died at age 103. news po
news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other workers in the last few years. the thing is, citi has a new c.e.o. in michael corbat, and experts say he's anxious to make his mark, even if that includes cutting staff. and the need to slim down is not ique to citi; it's indtry- wide. a financial industry runs into huge problems. it happened in the '30s, and it happened in the last five years. when you go through these periods, you go through a lot of change. that industry is now trying to figure out what is the right size of the industry. >> reporter: still, economists say citi's action today is not the start of a new wave of mass layoffs across corporate america. the nation's job market may not be robust, but it's not frozen, either. in fact, today, the payroll firm a.d.p. reported 118,000 new private sector jobs were
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